It'll be interesting to see just how much faster the cars are and how much more they can be pushed to the limit with the new regulations. I think we'll see a fair bit of improvement during the year from all the top teams as they get to grips with them.

Ross Brawn and Sean Bratches have been confirmed to key roles within Formula 1’s new leadership structure under new chairman/CEO Chase Carey.

Brawn, whose team won the 2009 World Championship with Jenson Button before laying the groundwork for Mercedes’ recent run of form, and who achieved a wealth of success with Michael Schumacher at Ferrari, has been installed as Managing Director, Motor Sports. Bratches, a former ESPN executive, will be Managing Director, Commercial Operations. It’s an undoubted key role in Brawn’s 40-year career.

Carey’s latter role was confirmed today as part of Liberty Media Corporation’s completed acquisition of the sport, which sees Bernie Ecclestone removed as CEO.

“I am delighted to welcome Ross back to Formula 1. In his 40 years in the sport, he’s brought his magic touch to every team with which he has worked, has almost unparalleled technical knowledge, experience and relationships, and I have already benefitted greatly from his advice and expertise,” Carey said in a release.

“I am thrilled Sean is joining Formula 1. Sean was a driving force in building ESPN into one of the world’s leading sports franchises. His expertise and experience in sales, marketing, digital media, and distribution will be invaluable as we grow Formula 1.

“I look forward to working with Ross and Sean, as well as key current executives including Duncan Llowarch, our CFO, and Sacha Woodward Hill, our General Counsel, the FIA, Bernie and Liberty as we work together to make Formula 1 the best it can be for the teams, promoters and fans for years to come.”

“It’s fantastic to be returning to the world of Formula 1,” Brawn said. “I’ve enjoyed consulting with Liberty Media these last few months and I’m looking forward to working with Chase, Sean and the rest of the Formula 1 Team to help the evolution of the sport. We have an almost unprecedented opportunity to work together with the teams and promoters for a better F1 for them and, most importantly, for the fans.”

Bratches has more than 27 years experience and at ESPN, most recently served as Executive Vice President of Sales and Marketing.

“I’m very excited to be joining Formula 1 and contribute to the continued growth of this extraordinary global brand and sport,” Bratches said. “Formula 1 is one of few truly global tier one sports, and I am encouraged by the manifold opportunities to materially grow the business, work closely with current and future sponsors, race circuits, television rights holders as well as create next generation digital and on-site race experiences to best serve the Formula 1 fans.”

Bernie Ecclestone’s 40-year reign at the helm of Formula 1 has come to an end following the CEO’s resignation on Monday, the major bit of news on a day when Liberty Media has formally completed its acquisition of Formula 1.

Ecclestone, 86, played an instrumental role in building F1 into the global success it is today, forming the Formula One Constructors’ Association in 1974 and becoming its CEO.

Ecclestone has controlled the commercials rights to the series ever since, but his position came into question last fall when F1 was sold to American company Liberty Media. Liberty installed Chase Carey as F1’s new chairman, with Ecclestone staying on as CEO.

However, with Liberty’s takeover of F1 set to be completed by the end of the month, Ecclestone’s tenure as the sport’s ringmaster is set to end following his resignation as CEO. Carey is now formally confirmed as new Chairman and CEO of the sport.

“I was deposed today,” Ecclestone told Auto Motor und Sport. “This is official. I do not run the company anymore. My position has been taken over by Chase Carey.

“My new position is now such an American expression. A kind of honorary president. I’ll get this title without knowing what it means.

“My days in office are now somewhat calmer. Maybe I’ll come to a grand prix. I still have a lot of friends in the Formula 1. And I still have enough money to be able to afford a visit to a race.”

AMUS’ report was followed by an official statement from Liberty later Monday afternoon, confirming Ecclestone no longer served as F1’s CEO, and confirming Ecclestone as Chairman Emeritus of the sport.

“I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula 1, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with,” Ecclestone said in a release. “I’m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”

Carey said, “I am excited to be taking on the additional role of CEO. F1 has huge potential with multiple untapped opportunities. I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport. We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime.”

“I would like to recognize and thank Bernie for his leadership over the decades. The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family. Bernie’s role as Chairman Emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.”

Greg Maffei, President and CEO of Liberty Media Corporation, added: “We are delighted to have completed the acquisition of F1 and that Chase will lead this business as CEO. There is an enormous opportunity to grow the sport, and we have every confidence that Chase, with his abilities and experience, is the right person to achieve this. I’d like to thank Bernie Ecclestone, who becomes Chairman Emeritus, for his tremendous success in building this remarkable global sport.”

Liberty confirmed within the release that the Liberty Media Group name will become the Formula One Group. Full formal details are linked here.

While not announced today, Liberty is reportedly set to bring in ex-ESPN marketing chief Sean Bratches in a commercial role, and ex-Ferrari and Benetton technical chief Ross Brawn has been linked with a sporting role to define the future roadmap for F1.

Liberty’s takeover is set to result in a number of changes for F1, with the United States being identified as a key market for the series to grow in.

Recently-appointed McLaren executive director Zak Brown said earlier this month that he believed Liberty would focus on putting fans first in a bid to boost its audience.

While Liberty’s exact plans for F1 moving forward remain unclear, the departure of Ecclestone as its ringmaster certainly signals the end of an era for the series.

Bernie's departure is great news. My hope is that Liberty focus on improving F1s digital offering, potentially making advertising revenue from that angle and thus becoming less reliant on big TV rights deals and huge fees from tracks in the Middle East.

Pancake wrote:Bernie's departure is great news. My hope is that Liberty focus on improving F1s digital offering, potentially making advertising revenue from that angle and thus becoming less reliant on big TV rights deals and huge fees from tracks in the Middle East.

Hopefully, something has to change as it can't keep going on as it is.